Wed. May 11th, 2022

Brussels plans to propose phasing out Russian fossil fuels to improve European energy security

The European Commission is planning to unveil, before its summit in May, a set of proposals for abandoning Russian gas, oil and coal, the head of the European Commission Ursula von der Leyen said on Friday.

As part of the proposed plan, the Commission is expected to present, by mid-May, a number of possible measures to “optimize” the design of the electricity market with a view to decarbonizing the energy mix. The plan is expected to help to completely eliminate dependence on Russian fossil fuels by 2027.

“In the short-term, we need to address high energy prices and prepare for next winter. On top of price regulation and state aid, we are looking at options to limit the rise of electricity prices,” von der Leyen said.

Earlier this week, the EC President said in a post on Twitter that the EU was “too dependent on Russian fossil fuels and, in particular, gas.”

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